Apple Buys Texture, a Digital Magazine Subscription Service

The Los Angeles Times (March 12) is reporting that Apple Inc. has agreed to acquire Texture, a digital magazine service that lets users subscribe to more than 200 magazines for $9.99 a month. Terms of the deal were not disclosed. Texture is currently offered via the app stores of Apple, Google, and Amazon.com Inc. Its addition bolsters Apple's efforts in online services and media, the California-based tech giant aims to top $50 billion in annual services revenue by 2021. "The deal may help Apple boost relations with news outlets that have become wary of Facebook Inc. and Google," notes the Times. "Texture's magazine catalog includes Entertainment Weekly, Billboard, Vanity Fair, Vogue, and Bloomberg Businessweek." This is Apple's second reported acquisition this year. Back in January, it purchased BuddyBuild, an app development service headquartered in Canada.